Mark Booth, senior surveyor at Bromwich Hardy, explained that the 10,278 sq ft property, currently generating rents of nearly £41,000 a year, is available to purchase for £875,000.
Mr Booth said: “Common Lane Industrial Estate is a long-established business location that has been the home of the Alvis Car Company for many years.
“There is a shortage of industrial units in Kenilworth, particularly at the smaller end of the market, and this could result in a major development opportunity here, with the potential for large rental growth.
“The existing units at this property on the Alvis Works site are currently fully let, bringing in an annual rent roll of £40,950, with many tenants having occupied the estate for a number of years.
“The office building is located at the front of the estate, parallel to the estate road, with the eight industrial units behind.
“The site benefits from a large car park in the centre of the estate, which provides ample parking for the occupiers, and the estate is surrounded by pleasant residential areas.”
The Alvis Car Company operated in Coventry from 1919 to 1967 and was renowned for producing three and four-litre sports cars, before being merged into Rover and then British Leyland.
However, the company was revived as its own business in 2009 and now produces limited numbers of six of its original models, known as the ‘Continuation Series’.
These are sold from a showroom that is still based on the Common Lane Industrial Estate.
More information about the commercial investment property at Alvis Works can be found here, and interested parties can email Mark Booth at [email protected].
